Fuel Cell Market Driven by Innovations in Automotive and Stationary Applications

Aug 8, 2019

The global fuel cell market size stood at $4.5 billion in 2018 and the demand is projected to rise at a Compound Annual Growth Rate (CAGR) of 15.38% during the forecast period 2019-2025.

Hyderabad, India - August 8, 2019 /MarketersMedia/ —

Government and multi-national organizations are promoting innovations in the fuel cell technology. These act as cost-effective and environmental-friendly solutions in the automotive and stationary fuel cell market. A report by IndustryARC evaluates that the global fuel cell market size stood at $4.5 billion in 2018. Furthermore, the demand is projected to rise at a Compound Annual Growth Rate (CAGR) of 15.38% during the forecast period 2019-2025.

The report is titled, “Fuel cell Market: By Usage (Commercials, Consumer Products, Automobile, and Others); By Type (Metal Hydride Fuel cell, DFAFC, UMFC and others); By Region - Forecast (2019 - 2025).” It consolidates an in-depth assessment of the competitive landscape, market drivers, market life cycle analysis, market entropy, financial analysis, market trends, and strategic analysis of the global fuel cell market. The report covers Fuel Cell Market size by type and applications, Fuel Cell Market share by top 5 companies and also the market share by start-ups during the forecast period.

View Full Table of Contents of Fuel cell Market:
https://www.industryarc.com/Report/15091/fuel-cell-market.html

Report Price (Single User): US $3850

Fuel Cell Market: Leading Segments

Fuel cells are broadly used in portable power generation, transportation, infrastructure, and stationary segments. Unlike other combustion technologies, stationary fuel cells generate electricity through an electrochemical reaction. It provides clean, efficient, and reliable off-grid power to businesses, homes, telecommunication networks, and utilities. Stationary fuel cells offer virtually emission-free power, and do not produce particulate pollutants and unburned hydrocarbons or cause acid rain. According to the report of IndustryARC, the stationary applications constitute a predominant share in the fuel cell market. Thus, the demand for stationary fuel cells market is anticipated to grow at a CAGR of 16.94% during the aforesaid forecast period.

Because of its environmental benefits, organizations are more inclined to invest in fuel cell market as they enable to meet standard air pollution goals and emission requirements. Today, many countries across the globe are working to accelerate the development of hydrogen and fuel cell technologies. Research and development (R&D) cooperation and collaboration become the central tool for the countries to upgrade their environmental, energy and economic security. The U.S. Department of Energy (DoE) has focused on research and development under the guidance of the government. The country is successfully commercializing and achieving results by utilizing fuel cells to power retail stores, data centers, company facilities, and other production sites. North America is the quickest, to adapt to the advancements of fuel cell technologies, thus occupied a regional share of 34.48% in the global fuel cell market as of 2018. Fuel cell companies draw revenue from various verticals such as sales, related equipment (such as hydrogen generators), contract research and development, support and maintenance contracts.

Fuel cell market: Disruptive Trends

• Though fuel cell technology arguably suffered for a long time, the market started to gain its momentum since the last few years. Improvements in technology, commercial products, and the realization of clean power are the factors leading to the growth of fuel cell technology.
• Recent advancements in solid oxide fuel cell (SOFC), enable them to operate at a lower temperature. Therefore, they became cost-effective and are used in commercially viable applications including automobiles and distributed power generation.
• After the latest launch of Hyundai Nexo, joining Honda Clarity, and Toyota Mirai, more advancements have lined up in the field of automobiles.

Talk to one of our sales representative about the full report by providing your details in the link below:
https://www.industryarc.com/support.php?id=15091

Fuel cell market: Competitive Landscape

At present, Panasonic, Toshiba, Ballard Power Systems, Hydrogenics Corporation, Horizon Fuel Cell Technologies, SFC Group, Ceramic Fuel Cells, Ltd, Bloom Energy, FuelCell Energy, Inc., Nuvera Fuel Cells, Plug Power, Doosan Fuel Cell America, Aisin Seiki Co., Ltd., Nedstack Fuel Cell Technology BV, UTC Power Corp., Arcola Energy are the major shareholders of the global fuel cell market.

B. Automotive Fuel Cell Market
https://www.industryarc.com/Research/Automotive-Fuel-Cell-Market-Research-505727

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: (+1) 614-588-8538
Website: https://www.industryarc.com/Domain/9/electronics-market-research-report.html

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